Superior Venture Corp. ("Superior" or “the Company”) (OTCQB:SVEN) has acquired Ilustrato Pictures Ltd. (“Ilustrato”), a motion picture development and production company focused on co-creating feature film projects with Chinese companies who will produce films to be distributed in China and internationally.
With corporate headquarters in London, England, Ilustrato Pictures Ltd. will now operate as a wholly owned subsidiary of Superior Venture Corp., a U.S. public company.
Ilustrato Pictures was established in order to co-create feature length films in partnership with domestic Chinese motion picture companies operating in China. Its business model combines the legacy of North American film making experience and motion picture development capabilities with significantly lower production costs backed by guaranteed revenue from domestic Chinese box office, and international film distribution.
At least 50% of all box office cinemas are vertically integrated with production companies in China. Ilustrato’s management has spent years developing its networks in China, resulting in strategic affiliations with leading Chinese production companies, studios and state owned agencies that control the majority of that country’s cinemas. Through this process, Ilustrato Pictures has become highly integrated into the Chinese business fabric. Management believes this gives Ilustrato a significant advantage in reaching film deals and the ability to do business where many Hollywood film companies cannot.
The Chinese movie industry has been the fastest growing film market in the world over the last fifteen years. Growth has averaged from 25 to 42 per cent per year, making China the second largest market in the world. Domestic Chinese box office receipts have increased from US$240 million in 2005 to over US$2 billion to date in 2012.